Monday, August 22, 2011

>Technical Update 20 August 2011 NSENifty

In continuation of earlier post..

(NSE-4843 at time of this post.)

Precise technical area for current downmove to end is around 4600 to 4650,which i think can happen in 2 weeks.

(Close above 5200 would force review of the above view)

4600 to 4800 is thick support area for nifty and buying should be done in this area.

Many midcaps and large cap stocks are quite cheap..!

Thursday, August 11, 2011

>Technical Update 11 August 2011 NSE DOW NASDAQ

Dow (10719) - Chart structure suggests that this downmove is first part of a larger downmove which can take 3 to 6 months to complete. The first phase of downmove can complete around 9500-9750 area from where we can see a bounce to 10500 to 10750 area and after that second down move can start.

Nasdaq (2381) - Similar to dow. Slip to 2200-2100 and then bounce to 2300-2400 and again slide down in second leg.

Targets and style of second leg would be discussed after seeing completion of first leg down, so watch this space again in a few days.

NSE Index (5150) - to slide a maximum to around 4700 (+or -100 points) levels from which we should see a good jump up. Can be used to buy call of 5000 levels or start short term long positions.